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CSN replaces CEO Benjamin Steinbruch with Fabio Schvartsman
Companhia Siderúrgica Nacional (CSN) has announced a major leadership transition. Benjamin Steinbruch, who served as CEO for 24 years, is stepping down from the executive presidency to return to the role of Chairman of the Board of Directors.
Fabio Schvartsman, former president of Vale and Klabin, has been appointed as the new CEO. Schvartsman inherits a critical mandate to execute a deleveraging strategy aimed at reducing the company's net debt, which reached R$ 42.13 billion in the second quarter.
The restructuring plan involves significant asset divestments to improve capital structure and reduce debt by an estimated R$ 18 billion to R$ 20 billion. Key assets under consideration for sale include the CSN Cimentos division and various infrastructure and logistics holdings.
Following the announcement, CSN shares saw a significant surge on the stock market, reflecting investor optimism regarding the new management and the focus on financial stabilization.
Entities
Benjamin Steinbruch · CSN · Companhia Siderúrgica Nacional · Fabio Schvartsman · Klabin · Vale
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 9 SOURCES] Benjamin Steinbruch will assume the role of Chairman of the Board. braziljournal.com · veja.abril.com.br · folhadoaco.com.br · www.spacemoney.com.br · www.infomoney.com.br · +2 more
- [● 6 SOURCES] CSN is negotiating the sale of CSN Cimentos. braziljournal.com · www.spacemoney.com.br · www.infomoney.com.br · neofeed.com.br · www.brasil247.com
- [● 9 SOURCES] Fabio Schvartsman has been elected as the new CEO of CSN. braziljournal.com · veja.abril.com.br · folhadoaco.com.br · www.spacemoney.com.br · www.infomoney.com.br · +2 more
- [● 8 SOURCES] The company aims to reduce its debt and leverage. braziljournal.com · veja.abril.com.br · www.spacemoney.com.br · www.infomoney.com.br · neofeed.com.br · +1 more
- [● 3 SOURCES] Fabio Schvartsman previously served as CEO of Vale and Klabin. braziljournal.com · veja.abril.com.br
- [● 3 SOURCES] The company's leverage reached approximately 3.5x EBITDA in the second quarter. braziljournal.com · neofeed.com.br
- [○ 1 SOURCE] The company's divestment program targets raising between 15 billion and 18 billion reais. veja.abril.com.br
- [● 7 SOURCES] Benjamin Steinbruch is stepping down as CEO of CSN after 24 years. braziljournal.com · veja.abril.com.br · www.spacemoney.com.br · www.infomoney.com.br · neofeed.com.br · +1 more
- [● 4 SOURCES] CSN's net debt reached R$ 42.14 billion in the second quarter. www.spacemoney.com.br · www.infomoney.com.br · neofeed.com.br · www.brasil247.com